Stone Ridge Asset Management LLC Has $15.01 Million Position in Colgate-Palmolive (CL)

Stone Ridge Asset Management LLC increased its holdings in Colgate-Palmolive (NYSE:CL) by 288.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 252,184 shares of the company’s stock after acquiring an additional 187,281 shares during the period. Colgate-Palmolive makes up about 0.9% of Stone Ridge Asset Management LLC’s holdings, making the stock its 13th largest holding. Stone Ridge Asset Management LLC’s holdings in Colgate-Palmolive were worth $15,010,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CL. ST Germain D J Co. Inc. boosted its position in shares of Colgate-Palmolive by 14.3% during the fourth quarter. ST Germain D J Co. Inc. now owns 16,530 shares of the company’s stock worth $984,000 after buying an additional 2,065 shares during the period. Joel Isaacson & Co. LLC boosted its position in shares of Colgate-Palmolive by 7.0% during the fourth quarter. Joel Isaacson & Co. LLC now owns 12,786 shares of the company’s stock worth $794,000 after buying an additional 832 shares during the period. Symons Capital Management Inc. purchased a new position in shares of Colgate-Palmolive during the third quarter worth $5,876,000. Palisade Asset Management LLC boosted its position in shares of Colgate-Palmolive by 3.8% during the fourth quarter. Palisade Asset Management LLC now owns 147,026 shares of the company’s stock worth $8,751,000 after buying an additional 5,416 shares during the period. Finally, Bridgewater Associates LP purchased a new position in shares of Colgate-Palmolive during the third quarter worth $6,089,000. Institutional investors own 75.02% of the company’s stock.

Colgate-Palmolive stock opened at $67.20 on Friday. Colgate-Palmolive has a 1-year low of $57.41 and a 1-year high of $72.61. The company has a debt-to-equity ratio of 32.25, a quick ratio of 0.76 and a current ratio of 1.14. The firm has a market capitalization of $57.90 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 4.25 and a beta of 0.78.

Colgate-Palmolive (NYSE:CL) last posted its quarterly earnings results on Friday, January 25th. The company reported $0.74 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Colgate-Palmolive had a return on equity of 25,268.29% and a net margin of 15.44%. The company had revenue of $3.81 billion for the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the firm earned $0.75 earnings per share. Colgate-Palmolive’s quarterly revenue was down 2.1% on a year-over-year basis. As a group, analysts anticipate that Colgate-Palmolive will post 2.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Friday, April 19th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Wednesday, April 17th. This is a boost from Colgate-Palmolive’s previous quarterly dividend of $0.42. This represents a $1.72 dividend on an annualized basis and a yield of 2.56%. Colgate-Palmolive’s dividend payout ratio (DPR) is currently 56.57%.

In other Colgate-Palmolive news, CTO Patricia Verduin sold 2,218 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $66.38, for a total value of $147,230.84. Following the sale, the chief technology officer now directly owns 48,671 shares in the company, valued at $3,230,780.98. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Justin Skala sold 4,488 shares of the firm’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $66.39, for a total value of $297,958.32. Following the completion of the sale, the vice president now owns 71,010 shares in the company, valued at $4,714,353.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,700 shares of company stock worth $3,419,284. 1.02% of the stock is owned by insiders.

CL has been the topic of several analyst reports. Goldman Sachs Group upgraded Colgate-Palmolive from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 8th. BNP Paribas upgraded Colgate-Palmolive from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $56.00 to $67.00 in a research note on Monday, February 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $61.00 price objective on shares of Colgate-Palmolive in a research note on Friday, February 1st. Evercore ISI initiated coverage on Colgate-Palmolive in a research note on Thursday, January 10th. They issued an “outperform” rating and a $70.00 price objective on the stock. Finally, Morgan Stanley set a $62.00 price objective on Colgate-Palmolive and gave the company a “hold” rating in a research note on Tuesday, January 29th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $65.13.

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Colgate-Palmolive Company Profile

Colgate-Palmolive Company, together with its subsidiaries, manufactures and sells consumer products worldwide. It operates through two segments, Oral, Personal and Home Care; and Pet Nutrition. The company offers oral care products, including toothpastes, toothbrushes, and mouthwashes, as well as pharmaceutical products for dentists and other oral health professionals; personal care products comprising bar and liquid hand soaps, shower gels, shampoos, conditioners, and deodorants and antiperspirants; and home care products, such as laundry and dishwashing detergents, fabric conditioners, household cleaners, and other related products.

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Institutional Ownership by Quarter for Colgate-Palmolive (NYSE:CL)

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